What Are the Highlights of the Recent Discoveries at Viridis Mining Colossus Project?

Colossus Project: Unveiling World-Class Rare Earth Discoveries

January 3, 2024 - Viridis Mining and Minerals Limited has made groundbreaking strides in the exploration of rare earth elements (REEs), particularly at the Colossus project, showcasing the potential to rank among the global leaders in REE Ionic Adsorption Clay (IAC) projects.

Capão da Onça Prospect: A New Frontier

The maiden auger and diamond drilling at the Capão da Onça (CDO) Prospect, located in the unexplored western quarter of the Alkaline Complex, have yielded the highest grade REE results to date for the Colossus project. Viridis, with its dominant ~14km2 land position in this area, is poised to unlock significant potential.

Key Drill Results:

CDO-AG-071: 7. 0m at 8,277ppm TREOA, ending in mineralization.
CDO-AG-059: 6. 0m at 5,248ppm TREO, also ending in mineralization.

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Several other impressive auger and diamond drill results highlight the high-grade nature of the REE deposits at CDO.

Expanding Discoveries: Fazenda Mining License and Cupim South

Deeper drilling efforts at the Fazenda Mining License and Cupim South have confirmed the extension of the saprolite hosting body, revealing world-class thickness and grades of REEs.

Notable Drill Results:

FZ-DDH-006: 33. 5m at 3,091ppm TREO within a broader section of 48. 5m at 2,662ppm TREO.
CS-DDH-005: 27. 0m at 2,903ppm TREO within a broader section of 62. 5m at 2,218ppm TREO.

Widespread High-Grade REE Deposits

Auger drilling assays across three additional licenses have returned outstanding high-grade REE assays, with all holes ending in mineralization. This includes impressive results from CDP-AG-001, CDP-AG-003, and several others, underlining the extensive and rich REE presence in these areas.

Scale and Quality of Discoveries

The third batch of auger and diamond drill results continue to highlight the immense scale and quality of the Colossus project. With over 100 auger holes, 34 adapted-RC holes, and 19 diamond holes still awaiting assays, the exploration is set to rapidly advance.

Agha Shahzad Pervez's Insight

Agha Shahzad Pervez, Executive Chairman of Viridis, emphasizes the exceptional results and potential of the Colossus project. He notes the significance of the discoveries at the Capão da Onça Prospect and the potential for deeper drilling to further uncover the scope of the world-class IAC ore body.

First Mover Advantage

Viridis holds a first mover advantage and a dominant land position in the Western Province of the Poços de Caldas Alkaline Complex. The company is actively acquiring data and drilling to enhance its understanding of the high-grade mineralization system, capitalizing on this standout opportunity.

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